Tag: Czech Republic

Webinar: E- COMMERCE – DO WHAT YOU DO BEST AND OUTSOURCE THE REST! on Thursday, 10th June 2021 13:00-14:00 CET

Michaela MerzLeave a comment

Covid lockdown brought us shopping over internet only, extensive growth number of retail eshops for various kind of product and services. The share of e-shops in retail sales is currently 13,5%. Customers expectations of quality and speed of deliveries are increasing, the complexity of the logistic, order fulfilment etc is becoming more and more demanding.

The company internally created e-shop becomes a complicated project and needs to be managed well. Outsourcing can be a valuable solution.

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Czech Republic – tax measures in response to COVID-19

Michaela Merz1 Comment

Following the State Security Council decision to severely limit free movement in the Czech Republic (from midnight March 16 to 6am March 24), the ministry of finance has published liberation tax package in connection with the state of emergency in the Czech Republic. In the VAT area, the following measures will apply:

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Czech Republik – Introduction of general reverse charge as from 2020 probable

Michaela Merz1 Comment

The Czech Republic has applied for the introduction of a generalised reverse charge system, which will apply to all supplies of goods and services in the Czech Republic worth over 17,500 euros (approx. 450,000 CZK). In such cases, the obligation to declare VAT will automatically be shifted from the supplier to the customer. The possibility of introducing this measure in local legislation is subject to compliance with the entry criteria stated in the Council Directive and to the final approval of the EU Council. If the Czech application is approved, the MoF estimates that changes to the Czech VAT Act will be effective starting from 1 July 2020 and lasting until June 2022.Read More »

EU – Fraud Assessment and Intelligence Tool (FAIT)

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Effective assessment and monitoring of risks associated with business partners

Carousel frauds have recently become a hot topic in Eastern Europe. Tax authorities investigate hundreds of cases and suspicious schemes also based on information received from the VAT control statements. Read More »

One can always cheat

Michaela Merz2 Comments

I spent two days in Prague on client business. And as my first meeting started early in the morning I had to travel on Sunday evening.

I took the opportunity and wrote to my former colleagues. It would be nice to meet a few of them again. Four replied positively and so five of us met in a small beerhouse. I have never really liked beer, but I didn’t want to be stand-offish right from the beginning and when Dani ordered five beers, I didn’t object. Read More »

Czech Republic – Electronic evidence of sales as from 1 of December 2016

Michaela Merz2 Comments

PwC_fl_30mmh_cThe President of the Czech Republic signed a new fiscal law “Act No. 112/2016, the Electronic evidence of sales Act”, in March 2016. New legislation will concern those who are taxpayers of a personal or corporate income tax and the payment meets the formal requirements for a registered sale, e.g. it is made in cash, by credit card, cheque, voucher or in any similar way. However, defined payments are not subject to the electronic evidence of sales like payments done via a bank transfer, income which is not subject to income tax, etc.Read More »

Czech Republic – New amendment of the Czech VAT Act

Michaela MerzLeave a comment

750686_web_R_by_detlef menzel_pixelio.deBelow you can find information about the draft amendment of the Czech VAT Act that is expected to come into effect from 1 May 2016.

The draft amendment, among other, introduces the local reverse charge in case the supply of goods to a Czech VAT payer is performed by a non-established person, i.e. the Article 194 of the EU VAT Directive is being implemented into the Czech VAT Act.Read More »

Music, History and International Collaboration

Michaela MerzLeave a comment

Janacek_Projektlogo01It is common knowledge that the media persistently report on the strife, disharmony and suffering in our world caused by parties unable to find agreement or ways to compromise. Consequently, too seldom do the media give enough time or space to those successful and fruitful collaborations among people, which result in positive outcomes. It just shows that the adage “Good news doesn’t sell” still applies.Read More »

EU Finance Ministers discuss VAT fraud – 15 January

Michaela MerzLeave a comment

Photo_RGB_R_DUB_D4_2152-2.jpgDuring the Ecofin Council meeting in mid-January, EU Ministers of Finance notably discussed VAT fraud. The discussion took place at the request of Czech Republic, which emphasised the need to transcend the current focus on corporate tax and pay more attention to VAT fraud. Read More »

CEE VAT antifraud conference – Budapest

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PwC_farbigAs already announced the CEE VAT antifraud conference took place on November 19, 2015.

Officials from the ministries of finance and economy of five CEE countries (Czech Republic, Hungary, Poland, Romania and Slovakia) have called for a Joint Approach to combat VAT fraud and increase VAT collection in a conference hosted today by PwC in Budapest.Read More »